Breaking News

Kano Revenue Board seals First Bank

By  AbdulSalam MUHAMME
Kano Board of Internal Revenue Friday sealed First Bank of Nigeria in Kano for non remittance of over N30million tax liability.
The action of the Board was sequel to what it described as ‘uncooperative, evasive lukewarm attitude and lack of respect for enabling law’ exhibited by the defaulting Bank over the last 3 years.

The official of the Kano Revenue Board had stormed the Regional headquarters of the Bank at the peak hour bringing banking operations in all the branches to a halt.

The Executive Chairman of the Board, Alhaji Nasiru Muhammad who invoked the power vested on him by section 104 of Personal Income Tax Act of (PITA)1993 threatened that FBN will remain shut until the total and adequate tax liability is fully settled.

His words: ‘I Nasiru Muhammad, the Executive Chairman of Kano Board of Internal Revenue in exercise of the power vested on me by Personal Income Tax Act 1993 herby seal of FBN office in Kano until the total and adequate tax liability against the defaulter in the sun of N30,573,921.40k is fully settled”.

The Board of Internal Revenue who made available several copies of correspondent between it and the Bank accused  FBN of  failure to remit to the Board its due between 2004,2005,2006 despite series of reminder, stressing that the act smacks of high disregard for constituted authority.

Reacting to the development, Kano Area Manager of FBN, Alhaji Abdullahi Sarki confirmed non remittance of the tax liability, adding that the management of the Bank is attending to the issue.

Abdullahi Sarki who described the action of the Boar of Internal Revenue as overzealous and unfair revealed that FBN management is reconciling relevants document in connection with the payment.

He stated that FBN had offered Banking services to Kano over the last 70 years adding that they had been alive to their corporate responsibilities and will not shy away from it now.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.